Will The Loci ICO Transform The IP Industry?

Technological trends are transforming the IP industry.

New industries like machine learning, predictive analysis and crowd sourcing are moving forward at breakneck speed.

The IP industry based on 20th century time scales is failing to keep pace.

Some companies like Apple and Google have opted to release their IP as open source. Hoping that by allowing it to be free to all, it will bring a wave of innovation.

Other corporations are choosing to crack down ever harder on IP violations.

Loci wants to develop a 21st century IP discovery platform which will keep pace with those changes. And they are using the blockchain to help them do it.

Challenges For Entrepreneurs and Inventors

Performing a patent search can be decidedly expensive. Inventors and entrepreneurs who hire an attorney to conduct research to identify whether a patent is viable are often put off by the fees. Prior art and patentability searches typically cost between $2k - $100K. These searches are also far from conclusive as well.

Enter InnVenn

InnVenn is an easy to use search tool that powers the Loci platform. This provides a cost effective means to search for inventions.

For inventors InnVenn will provide another means to monetise their intellectual property. One that doesn’t require them to go through the full patent process.

They can also find other inventors doing work in similar fields. They can then group together with these inventors to form a consortium.

This consortium will then be able to package IP as a group which is more attractive to buyers.

LOCIcoin

Payments made with Loci will be made using its own utility token called LOCIcoin. Loci is planning to distribute a maximum of 50 million LOCIcoins in a token sale. You can find out more about the token sale by visiting:

Loci Website: https://locipro.com/

Loci Whitepaper: https://locipro.com/wp-content/uploads/2017/12/loci-full-whitepaper.pdf